The federal government announced a nearly 962 million dollar fund to support businesses.
Mlanie Joly, Minister of Economic Development and Official Languages said the Regional Relief and Recovery Fund will help sectors like manufacturing, technology and tourism.
“All hardworking entrepreneurs that are working day and night right now for the survival of their businesses and also to ensure that their employees are able to have access to a good job during and after the pandemic,” she said.
Joly said this will help those who have been unable to access existing support measures.
“The idea right now is to provide solutions because I know, we know you are going through a period of stress and anxiety,” she said.
Joly said the goal of the program is to appropriately restart the economy and have an equitable relaunch of the economy.
The regional development agencies (Atlantic Canada Opportunities Agency , Canada Economic Development for Quebec Regions, Canadian Northern Economic Development Agency , Federal Economic Development Agency for Southern Ontario Federal Economic Development Initiative for Northern Ontario and Western Economic Diversification Canada)will be delivering and managing the funding.
“The idea is to make sure that we can offer enough flexibility and be adaptive to regional realities. The agencies are close to the ground, have their eyes and ears close to the ground, and are there to help,” she said.
Joly said applications for the fund are now open.
